TV presenter Selina Scott has reached a settlement with Channel Five understood to be worth around £250,000, after launching a legal action for age discrimination.

Scott, 57, claimed she was lined up as maternity cover for Natasha Kaplinsky on Five News but was discriminated against for being too old. Five yesterday apologised to Scott. "The proceedings brought by Selina Scott against Five under new age discrimination laws have been settled," said a spokesman. "Five has apologised for the offence it caused Scott. The financial terms of the settlement are confidential."

Laura Tyler, of Schillings, which represented Scott, confirmed a settlement had been agreed and Five had apologised.

Five announced in June that Kaplinsky would be replaced by Isla Traquair, 28, and Matt Barbet, 32. When Scott launched her legal action in September, the broadcaster said it would "vigorously defend" itself.

Scott joined ITV's News at Ten in 1980 and helped launch the BBC's Breakfast Time programme in 1983. Earlier this year she hit out at ageism in television news. "How many women are there on mainstream current affairs programmes who are over 50?" she said. "Anna Ford has retired, Moira Stuart has been bumped, yet you look around and see lots of men."

Kaplinsky, 35, joined Five News in February, presenting its 5pm and 7pm news bulletins. When her predecessor, Kirsty Young, went on maternity leave in 2006, Five brought in John Suchet, then 62.